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European ADRs Climb as Financial Stocks Rally

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American depository receipts of European stocks were 2.0% higher at 122.11 on the Bank of New York Mellon Europe ADR Index on Tuesday morning.

Gainers in Continental Europe were led by Sequans Communications ( SQNS ), a French developer of chipset solutions, 5.2% higher, followed by Aegon - New York Shares ( AEG ), a Dutch life insurance, pensions and asset management company, up by 3.9% and Banco Bilbao Vizcaya Argentaria ( BBVA ), a Spanish financial group, up by 3.5%.

In the UK, financial stocks Royal Bank of Scotland ( RBS ) Prudential ( PUK ) and Aviva (AV) were up by 5.4%, 4.7%, and 4.6%, respectively.

Decliners in Continental Europe were led by Telecom Italia (TI), an Italian telecommunications company, down by 2.1% and Natuzzi (NTZ), an Italian furniture manufacturer, trading 1.4% lower.

And, in the UK, Randgold Resources (GOLD), a gold-mining company, was 2.4% lower, followed by Luxfer (LXFR), a materials technology company, down by 2.3% and Amarin (AMRN), a biopharmaceutical company, trading 0.6% lower.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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